Compliance

While regulators worldwide have urged banks not to "derisk" by cutting off entire industries or geographies, it is rare for policymakers to specifically cite this controversial sector as wrongly underserved.

WASHINGTON — On the heels of the Consumer Financial Protection Bureau being forced to delay implementation of the new TILA/RESPA Integrated Disclosures (commonly referred to as TRID), CUNA says it has discovered a discrepancy relating to exemptions for small lenders.

The deal is the latest step by eBay to focus on its online marketplace as it restructures. The San Jose, Calif.-based company is scheduled to spin off its PayPal transactions business in the third quarter.

The Consumer Financial Protection Bureau has fined a medical debt collector and ordered the company to provide financial relief to consumers for mishandling credit-reporting disputes.

Royal Bank of Scotland Group Plc said it has processed the 600,000 credit- and direct-debit transactions that were delayed this week in the government-owned bank's latest payments failure.

FHA tries to clarify what loan defects will bring the harshest penalties to guide lenders and instill more confidence.

In what would be the first comprehensive rewrite of its member business lending regulation since 2003, the NCUA Board unanimously approved a proposed series of changes that would make it markedly easier for CUs to lend to businesses.

U.S. ATM operators still in the process of upgrading to EMV-chip card acceptance must also be ready to accept debit cards with common application identifier coding.

India and China are both huge markets for cards that are also fraught with regulatory and political hurdles. To better address these markets, MasterCard has created two regional divisions and promoted executives with expertise in both countries.

Financial services technology provider Fiserv has updated its capabilities to handle EMV-chip card production entirely in-house.

The two main credit union trade groups, normally in lockstep on most issues, are split in their reactions to proposed legislation in Congress that calls for a delay to study NCUA's proposed risk-based capital rule.

Six banks including JPMorgan Chase and Wells Fargo have been placed under further business restrictions after the Office of the Comptroller of the Currency determined they had yet to fully meet regulatory orders related to the independent foreclosure review which began in 2011.

Traditional non-bank payment providers have elected several unconventional names to represent the industry on the Federal Reserve's Faster Payments Task Force steering committee.

More than a year after the CFPB revamped its employee rating system following allegations of discrimination, Equal Employment Opportunity complaints have surged and the agency faces ongoing accusations of bias and retaliation against workers who speak out.

NCUA and AARP will host an online presentation for consumers and credit unions on how to prevent elder financial abuse.

Scale is one of the most important things remittance companies must focus on, which is why long-standing incumbents continue to have the upper hand.

House lawmakers plan to introduce a bill Monday to delay a controversial risk-based capital proposal for credit unions that would require regulators to further study the issue before finalizing the plan.

Square Inc. will eventually be a publicly traded company and could conduct an initial public offering this year if it wanted to, its former chief operating officer said.

Anthony Albanese, the top deputy to New York bank regulator Benjamin Lawsky, will become acting head of the state's Department of Financial Services when his boss steps down next week, signaling little change in that office's aggressive stance on financial enforcement.

Visa has elected Lloyd A. Carney as the twelfth member of its Board of Directors and a member of the Board’s Audit and Risk Committee. His position came into effect June 11.